Miami-Dade prices and sales continue to climb

Demand continues to drive prices skyward even as inventories improve

TRD MIAMI /
Sep.September 19, 2013 01:03 PM

Homes and condos in Miami-Dade County continued to experience double-digit price appreciation in August, according to the Miami Association of Realtors, a fact that did not slow down sales.

Single-family home sales rose 15.1 percent to 1,210 transactions in August from 1,051 sales in August 2012. Condo sales gained 7.9 percent, up from 1,476 a year ago to 1,592 in August.

“The Miami real estate market continues to attract record numbers of domestic and international buyers and investors,” this year’s Miami’s realtors association chairman, Natascha Tello, said in a release.

Unprecedented demand for Miami properties is driving robust price appreciation even as inventories increase.

The median sales price of single-family homes in Miami-Dade surged 20.5 percent to $235,000 year-over-year and 2.2 percent compared to the previous month. The median sales price of condominiums, which has significantly increased each of the last 26 months, spiked 27.5 percent to $180,500 compared to a year earlier and 5.3 percent compared to the previous month. — Emily Schmall


Related Articles

arrow_forward_ios
Richard Swerdlow and Bruce Goldstein 

Betting on distress: Bulk condo website launches, aimed at investors

Betting on distress: Bulk condo website launches, aimed at investors
Nick Pérez and Solemar (Courtesy of Related)

Related Group launches sales of first SoFla condo project since 2016

Related Group launches sales of first SoFla condo project since 2016
From left: Henry Torres, Jorge Perez, Alicia Cervera Lamadrid, Gil Dezer and Joseph Kavana (iStock)

“Anything and everything is negotiable”: Incentives for condo buyers mount in Miami

“Anything and everything is negotiable”: Incentives for condo buyers mount in Miami
(iStock)

A buyer’s market: Condo supply soars in downtown Miami

A buyer’s market: Condo supply soars in downtown Miami
Judge gives Regalia developer A year to sell remaining units

Bankruptcy judge gives Regalia developer a year to sell PH and beach house

Bankruptcy judge gives Regalia developer a year to sell PH and beach house
Alta Developers CEO Raimundo Onetto and Le Parc at Brickell rendering

Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects

Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects
(Credit: iStock)

Luxury condo prices drop in downtown Miami amid lockdown

Luxury condo prices drop in downtown Miami amid lockdown
From left: Roberto Blanch, Dennis Eisinger, Sebastian Jaramillo, and Paul Kaplan

South Florida HOAs and condo associations prepare for a drop in collections

South Florida HOAs and condo associations prepare for a drop in collections
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...